Pinnacle Financial Partners (NYSE:PNFP) Price Target Raised to $112.00

Pinnacle Financial Partners (NYSE:PNFP) had its price objective hoisted by equities research analysts at DA Davidson from $109.00 to $112.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s target price would indicate a potential upside of 9.24% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Barclays cut their price objective on shares of Pinnacle Financial Partners from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Tuesday, April 7th. Piper Sandler boosted their price target on Pinnacle Financial Partners from $122.00 to $123.00 and gave the company an “overweight” rating in a report on Friday. Wall Street Zen raised shares of Pinnacle Financial Partners from a “sell” rating to a “hold” rating in a report on Tuesday, May 12th. Citigroup upped their target price on Pinnacle Financial Partners from $122.00 to $126.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Finally, UBS Group increased their price target on Pinnacle Financial Partners from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.76.

Pinnacle Financial Partners Trading Down 0.1%

Shares of Pinnacle Financial Partners stock opened at $102.53 on Friday. The firm has a market capitalization of $7.95 billion, a PE ratio of 14.08, a P/E/G ratio of 0.41 and a beta of 1.04. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.73. The firm has a fifty day moving average price of $97.90. Pinnacle Financial Partners has a twelve month low of $81.08 and a twelve month high of $107.00.

Pinnacle Financial Partners (NYSE:PNFP) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.46 by $0.04. Pinnacle Financial Partners had a net margin of 15.40% and a return on equity of 10.93%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.24 billion. As a group, sell-side analysts predict that Pinnacle Financial Partners will post 10.18 EPS for the current year.

Institutional Investors Weigh In On Pinnacle Financial Partners

Large investors have recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new position in shares of Pinnacle Financial Partners during the third quarter worth approximately $26,000. High Point Wealth Management LLC bought a new position in shares of Pinnacle Financial Partners in the fourth quarter worth $27,000. BOKF NA raised its stake in shares of Pinnacle Financial Partners by 1,204.5% during the third quarter. BOKF NA now owns 287 shares of the company’s stock valued at $27,000 after purchasing an additional 265 shares in the last quarter. Activest Wealth Management acquired a new stake in Pinnacle Financial Partners in the fourth quarter worth about $28,000. Finally, Resources Management Corp CT ADV acquired a new stake in Pinnacle Financial Partners in the first quarter worth about $26,000. Institutional investors and hedge funds own 87.40% of the company’s stock.

About Pinnacle Financial Partners

Pinnacle Financial Partners (NYSE: PNFP) is a bank holding company headquartered in Nashville, Tennessee, that provides a broad range of commercial and consumer banking services. Founded in 2000, the company operates through a network of banking offices and digital channels to serve individuals, small and middle-market businesses, and institutional clients. Pinnacle’s business model emphasizes relationship-based banking and tailored financial solutions for commercial borrowers and deposit customers.

The company’s product and service offerings include commercial and residential lending, treasury and payment solutions, deposit accounts, mortgage services, and cash management.